How Digital Transformation Enhances Your Business Processes
Digital transformation is the reimaging of business in the digital era. That is the process of using the latest technologies to create new or update existing business processes. It benefits your business on multiple levels, from boosting customer collaborations, marketing strategy to business process automation.
In this article, you will learn the key benefits of digital transformation for your business.
Increasing Employee Productivity
Digital technologies improve workplace efficiency and productivity. They help organizations of all shapes and sizes streamline time-consuming operations and speed up business processes.
One such example is robotic process automation, which outperforms human workers on multiple levels. According to IBM, bots can complete tasks 20 times faster than humans. Most importantly, they reduce the risk of human error.
Business intelligence tools take data analytics to a whole new level. They can gather and analyze massive amounts of data faster and more accurately than humans.
For your employees, sophisticated data analytics tools are a significant productivity booster. Namely, research studies found that employees waste 1.8 hours every day searching and collecting information.
They do not need to waste time collecting and analyzing data anymore. AI-powered software will do that for them. Next, they can use these insights to make strategic business decisions faster than they could without advanced technologies. Most importantly, they can focus on more creative and strategic tasks.
Enhancing Resource Management
During the digital transformation process, your business replaces traditional legacy systems with modern IT solutions. They centralize business processes and enable a seamless data flow across all departments.
That improves the overall workplace efficiency and helps you eliminate the silo mentality in the workplace. Most importantly, that is the opportunity to reduce duplicate technologies and reduce the costs associated with them.
On-demand computing resources and cloud technologies let companies optimize their IT spending. They are easily scalable and provide as much computing capacity as your company needs. In other words, you do not need to waste money on the technologies you do not need.
Business Process Automation
Companies across various industries have been leveraging the power of automation for many years. In 2021 and beyond, these technologies will keep improving thanks to the evolution of artificial intelligence. AI and automation are not a privilege of big-budget businesses anymore. They are a necessity for small and mid-sized companies, as well.
You can now automate processes by introducing scripts that follow predefined commands. Most importantly, AI technologies continuously collect data and “learn” about the tasks they are performing. These technologies eliminate the most tedious and manual tasks and perform them faster than humans. We use them in various business areas, including report generation, invoice processing, inventory management, data collection, etc.
There is still a huge potential to automate tasks that involve creativity and a human approach. For example, many businesses have already invested in chatbots to provide customers with 24/7 support and improve client onboarding. These technologies also play a fundamental role in the HR sector since they automate multiple processes, from candidate screening to interviews.
Automation and AI can even be used in creative industries, such as journalism or copywriting. There are already tools that you can make flyer and visualize your content that use natural language processing to produce engaging content. According to the HTEC Group, NLP technologies like chatbots or predictive search have revolutionized the UX field.
Digital transformation increases your company’s potential for growth and success. It provides you with the unique opportunity to adapt to the changing market needs faster.
Such organizations better weather regular business ups and downs. Most importantly, they can maintain a competitive advantage during larger disruptions, such as the Coronavirus pandemic. Companies that quickly adopted new business technologies maintained their operational efficiency.
For example, since the Coronavirus outbreak, many companies have shifted to the cloud. The use of these technologies has increased organizational resiliency and flexibility. It enables companies to maximize employee collaboration, hire international staff, and provide exceptional customer service.
Boosting Business Innovation
In today’s hypercompetitive business ecosystem, your business needs to be authentic to succeed. That is where digital transformation steps in. Digitalization allows you to develop products and services you could not create in the past. Companies across various industries can now better innovate and develop user-centric products and services.
For example, architects and interior design businesses use extended reality technologies to create virtual home renovations. That way, their clients know what the remodeling process will look like before it starts. Beauty brands create VR apps where customers can try on different products via their smartphones.
Supercharging Employee Communication
Digital transformation is not all about adopting the latest IT solutions. It has a major impact on your company culture and how your employees behave. One of its goals is employee education and the removal of the silo mentality. The lack of employee communication and collaboration harms their overall productivity and information flow.
The COVID-19 pandemic has proven how essential remote work is for businesses of all shapes and sizes. Companies that already invested in remote work policies and invested in cloud solutions were better prepared to navigate the Coronavirus crisis. Some have even learned how to harness the full potential of these technologies and come out of the crisis stronger than before.
In remote teams, communication plays a central role. When team members do not sit side by side, the need for transparent and fast digital communication becomes vital. Companies need to introduce a wide range of team collaboration systems, such as messaging software, project management tools, reporting software, and online conferencing platforms. That way, employees can communicate in real-time and avoid back-and-forth email communications, irrespective of their location.
For better connectivity, everyone in the team should use the same communication tools and platforms.
Ready to Digitally Transform your Business?
Every business transformation is tedious, and digital ones are even more challenging. That is exactly why you need to implement them strategically. Always write down your long-term goals, hire digitally savvy employees, and provide continuous team education.
Have you invested in the digital transformation of your business?